Arizona Gov. Jan Brewer has signed a bill to change Arizona’s four public employee retirement systems.
Provisions in the bill signed Friday include scaling back some benefits, mainly for new hires, and requiring new contributions from employers rehiring retirees.
Supporters said the changes bolster the systems’ financial footings, while critics said some changes go too far.
Changes that would apply to one or more of the systems include tying cost of living adjustments to measurements of plans’ financial health and installing higher age and service floors for retirement.
Unions opposed the bill, and business groups supported it.
Retirement programs for public employees have been under a spotlight by lawmakers and others nationally due to programs’ rising costs and poor investment performances during the Great Recession.